CIEL LIMITED, COTE MAURITIUS, MARKS ITS 110TH ANNIVERSARY WITH AN INCREASE IN REVENUES OF MORE THAN 50%
LONDON and PARIS, June 20, 2022 /PRNewswire/ — Mauritius-listed African investment company SKY Limited (CIEL.N0000) delivered its best year-to-date results since the COVID-19 pandemic, surpassing its previous performance as it celebrates its 110th anniversary.
Within nine months of March 31, 2022CIEL’s turnover increased by 51% to reach $475 millionwith an EBITDA margin increasing to 16.8% against 12.2% the previous year.
CIEL, listed on the Stock Exchange of Mauritius and the SEM Sustainability Index, has investments in more than 25 companies across six clusters (TEXTILE, FINANCE, HEALTH, HOTELS AND RESORTS, REAL ESTATE and AGRO-BUSINESS).
“Our diverse portfolio has proven its strength in the most uncertain times, and now CIEL is ready to successfully meet future challenges,” notes Jean-Pierre Dalais, Group CEOwho has run the company since 2017.
CIEL is headquartered in Mauritius and operates in 10 markets in Africa and Asiarealizing 60% of its turnover in USD and EUR, generating significant cash reserves in foreign currencies.
CIEL leveraged its market position by developing and executing strong business plans and supporting and growing businesses in its chosen sectors.
Founded in 1912 as a sugar company, the conglomerate has evolved and grown through specific and diversified investments to become a rising star in multiple sectors including HEALTH, TEXTILES, FINANCE, HOTELS & RESORTS , PROPERTIES and AGRO. This ensures a well-balanced portfolio, positioning the business to face future growth.
With 19 different production units, CIEL’S TEXTILE business has established itself as a powerhouse, offering a solid alternative to China for the global fashion industry. Through this cluster, CIEL ships 42 million garments annually to global brands such as Lacoste, Asos, (LON: ASC) and Puma (ETR: PUM), among others. The TEXTILE cluster is the largest in CIEL’s portfolio in terms of number of employees, with some 20,000 talents in four nations, on two continents.
CIEL’s FINANCE division is a shareholder of two banks and a partner of international organizations such as from Kenya I&M Bank and africa AXIAN. The cluster also offers financial services and employs 1,600 finance professionals.
CIEL’s HEALTHCARE cluster, C-Care, is the leader of the island’s private hospitals as well as laboratories across an extensive network under the C-Lab brand. C-Care employs more than 2,000 medical and support professionals and includes the most recognized physician network in Mauritius. C-Care has a considerable presence in Uganda and now extends to East Africa.
The HOTELS & RESORTS division of the company is the strategic partner of Mauritius for the Four Seasons and Shangri-La chains and owns several long-standing local hotels under the SUN Resorts brand.
The PROPERTIES branch of the company was created in June 2020 and operates land and buildings owned by CIEL. It also has a sustainable property development offering with a strong focus on biodiversity and agro-hub opportunities.
CIEL retains its original sugar roots thanks to its investment in the Alteo group (AGRO-BUSINESS) which employs more than 5,800 people. It is the largest sugar producer in Mauritius and has a strategic presence in East Africacreating a competitive advantage along the sugarcane value chain with the production of raw sugars, specialty granulated sugars, bagasse, molasses and energy.
As a country, Mauritius achieved exceptional economic performance. Its GDP rebounded in 2021, growing by around 4% over the year. The International Monetary Fund (IMF) predicts 6% growth for 2022. CIEL has acted as one of the cornerstones of the country’s growth and development for more than a century.
SKY was listed in 2014 on the Stock Exchange of Mauritius, an internationally recognized stock exchange, member of the World Federation of Stock Exchanges and winner of the 2017 title of the most innovative African stock exchange.
With a population of 1.2 million, the country has a growing economy that has consistently produced strong results. This has led to significant foreign direct investment and a rapidly growing financial, IT and digital services sector to complement traditional maritime and tourism assets. Its main export partners are the European Union, United Statesthe UKand South Africa.
“We are proud to be an international company committed to the development of Mauritius as an economy, and we plan to continue this journey of investment, growth and innovation across all of our sectors and in our chosen emerging markets.”added Jean-Pierre Dalais.
SOURCE Sky Limited